The Steering Board has the task to oversee the implementation of the InvestEU Programme and determine the strategic and operational guidance for the implementing partners. Other duties of the board include the adoption of the risk methodological framework, the rules of procedure of the secretariat for the Investment Committee and the rules for operations with investment platforms.
The Steering Board is composed of four representatives of the Commission, three representatives of the EIB Group, two representatives of the implementing partners other than the EIB Group and one expert appointed as a non-voting member by the European Parliament.
Steering Board members
Chair of the InvestEU Steering Board; Deputy-Director General – International and Investment, Directorate General for Economic and Financial Affairs (ECFIN)
Before becoming Deputy-Director General, Elena Flores has held several senior management positions at ECFIN, including Director for International economic and financial relations, global governance; Director for Policy Strategy and Coordination and Director for Economies and Member States II. Previously, she worked as head of the units ‘Public finance in the euro area and the EU’ and ‘Monetary union: technical and financial market questions’ and served as Advisor in Commissioner Solbes’ office, responsible for economic policies, employment, taxation and financial issues.
Director - Investments, Sustainable and Innovative Transport, Directorate General for Mobility and Transport (MOVE)
Herald Ruijters’ main working areas include the trans-European transport network, Alternative Fuels, Intelligent Transport Services, Urban Mobility, Passenger Rights, as well as social, research and innovation. Alongside these major policy areas, his responsibilities also include the funding and financing instruments that are transport related, notably the Connecting Europe Facility, Horizon Europe, InvestEU, ESIF and RRF.
Deputy Director-General – Funds, Fair Transition and Analysis, Directorate General for Employment, Social Affairs and Inclusion (EMPL)
Andriana Sukova is Deputy Director-General in charge of the European semester process and the analytical backing of policymaking. She is also responsible for the funds supporting employment and social policy. Andriana Sukova joined the European Commission in 2007 as a member of the Cabinet of the Commissioner for consumer protection. In 2010, she started to work in DG EMPL as a Director for the preparation of the legislation and implementation of the European Social Fund and the European Globalisation Adjustment Fund as well as on budget and performance reporting.
Director of Investment, Directorate General for Internal Market, Industry, Entrepreneurship and SMEs (GROW).
Merete Clausen leads the work of DG GROW to promote investment in the green, digital, and resilient transition of the EU’s industrial ecosystems. Her responsibilities span access to finance, public procurement, public interest services, competition, and intangible economy. She brings to this work her previous experience from head of unit positions in the Commission’s Directorate-General for Economic and Financial Affairs, where she was responsible for coordination with the EIB Group, the EBRD and other International Financial Institutions, as well as for financing of innovation, competitiveness, and employment policies, including the SME window of the European Fund for Strategic Investments, the predecessor to InvestEU.
Director - Head of Mandate Management Department
Christoph Kuhn is responsible for the management of EIB’s mandate activities inside and outside the EU. Before InvestEU, Christoph held responsibility for the design and implementation of predecessor mandates, notably the Risk Sharing Finance Facility, InnovFin, the Connecting Europe Facility and the European Fund for Strategic Investment.
Director - Sustainability & Quality Management Department – Projects Directorate
Laura Piovesan is currently Director of the European Investment Bank’s Sustainability and Quality Management Department within the EIB’s Projects Directorate, with responsibilities on policymaking, notably in the fields of climate, social and environmental sustainability, additionality and impact, as well as on ensuring the quality of projects and the application of EIB standards during the project cycle.
Chief Investment Officer
In his capacity as Chief Investment Officer, Alessandro Tappi is responsible for equity investments in Venture Capital, Private Equity and Private Credit funds, as well as credit guarantee operations on SME financing portfolios. He has a long track record in SME securitisation and SME financing. Investments under his responsibility exceed EUR 10 billion a year, of which approximately one third in the equity funds and two thirds in the credit space. He serves as member of the Board of Directors of various funds of funds.
Head of Institutional Relations and European Projects
Massimo d’Eufemia is currently Head of Institutional Relations and European Projects at Cassa Depositi e Prestiti (CDP), the Italian financial National Promotional Institution. CDP supports the development of the country, using national savings to enhance growth and boost employment, leveraging on new technologies and innovations, promoting business competitiveness, sustainable infrastructure and local development.
During his career, Massimo d’Eufemia has held several management positions at the European Investment Bank. Previously, he worked for a French merchant bank and as advisor for international affairs at Italian Ministry of Economy and Finance.
Chief Executive Officer
Michel Casselman has been CEO of PMV since 2014. PMV is the Belgian promotional institute responsible for Flanders, with own assets and assets under management/advise totalling EUR 1.5 billion. PMV provides equity, (subordinated) debt and guarantees to companies and projects in its region, with a focus on both societal and financial return for its investments. Within the Steering Board, Michel Casselman represents the group of smaller NPBIs.
Expert appointed by the European Parliament
Alain Lamassoure is a former Magistrate of the French Court of Auditors, Mayor of Anglet, France, Member of the French National Assembly, Minister for European Affairs, Budget Minister and served five terms as Member of the European Parliament. In his capacity as MEP, he was Chairman of the Budgetary Control Committee (CONT), the Budgets Committee (BUDG) and the Special Committee on Tax Rulings and Other Measures Similar in Nature or Effect (TAXE 2).
Steering Board documents